Uber demand nearly back to pre-pandemic level
US ride-hailing and food delivery giant Uber raised its guidance as demand for rides and food delivery is almost back to pre-pandemic levels.
Uber said in a filing it now expected adjusted earnings before interest, taxes, depreciation and amortization of US$130-150 million in the first three months of the year, up from its previous projection of US$100-130 million.
On the ride-hailing front, the trips-taken metric has bounced back to 90% of February 2019 results, it said.
Uber’s CEO Dara Khosrowshahi noted that growth in ridership has been broad-based, including trips for travel, commuting and evening outings.
“Our mobility business is bouncing back from Omicron much faster than we expected,” he added.
Gross bookings for airports, which are among the most profitable routes for Uber, were up over 50% month-on-month in February.
Khosrowshahi said the company is “preparing for the upcoming travel season to be one of the strongest ever.”
During the peak of the pandemic, Uber’s delivery business thrived as consumers became more dependent on ordering food and groceries online, cushioning the firm against a decline in its ride-hailing business.
There has been concern that delivery business may slow down as ride-hailing demand picks up, but gross bookings on the delivery side actually reached an all-time high in February, the company said.
-- Contact us at [email protected]
-
HK says Goodbye to Pioneer of English Education Mark O'Neill
On May 7, 150 people crowded into St John’s Cathedral in Garden Road to say goodbye to a polymath and pioneer of English-language education who lived in the city for 42 years. Dr Verner Bickley
-
French Sisters in HK saved 34000 abandoned children Mark O'Neill
In 19th century Hong Kong, families abandoned thousands of girls whom they could not or would not bring up. They faced death, disease, a life of domestic service or prostitution. But the Sisters of
-
Czech National Ballet in Hong Kong Arts Festival Kevin Ng
Nowadays Hong Kong seldom plays host to overseas ballet companies, except during the annual Hong Kong Arts Festival. Czech National Ballet is the only ballet company touring this year’s Festival. Its
-
Are Hong Kong migrants to UK returning home? Mark O'Neill
“She was a schoolteacher in Hong Kong and now works as a cashier in a supermarket in Britain. I think she and her husband would like to come back but it is a question of face. How would she explain
-
Collaboration to Transform Waste into Resources Dr. Winnie Tang
Over the past decade, the amount of waste produced by Hong Kong residents has remained high. According to government data, the per capita municipal solid waste disposal rate per day in Hong Kong
